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John Milton's Comus
(Blackwell Publishers, 2001)
Social Approval and Teenage Childbearing
(Vanderbilt University, 2001)
We examine the phenomenon of "pockets of teenage illegitimacy" in a model of social approval, where attitudes to such illegitimacy are endogenously determined at a local community level. Both a woman's actual well-being ...
The Cost of Heterogeneity in a Monetary Union
(Vanderbilt University, 2001)
In this paper, we explore whether heterogeneity among union members could threaten the stability of the EMU. The types of heterogeneity we consider are (1) asymmetries in the transmission of monetary and fiscal policies, ...
Bootstrapping GMM Estimators for Time Series
(Vanderbilt University, 2001)
This paper establishes that the bootstrap provides asymptotic refinements for the generalized method of moments estimator of overidentified linear models when autocorrelation structures of moment functions are unknown. ...
Inflation Targeting, Announcements, and Imperfect Credibility
(Vanderbilt University, 2001)
In virtually all theoretical studies of inflation targeting, the announced inflation target is treated as being fully credible. However, inflation targeting policies have typically been implemented after protracted periods ...
Corruption: Political Determinants and Macroeconomic Effects
(Vanderbilt University, 2001)
Two aspects of corruption are examined theoretically: its effect on macroeconomic variables, and its determination from the political environment. Corruption is defined in an occupational choice model as the extra fees or ...
The Pro-Trade Effects of Immigration on American Exports During Period 1870 to 1910
(Vanderbilt University, 2001)
This paper examines the impact of a stock of immigrants in the United States on American exports to their home country during the period 1870 to 1910. Our data set spans the exports of 44 commodities to 17 countries observed ...
Optimal Pricing Under Stochastic Inflation:State-Dependent (s,S) Policies
(Vanderbilt University, 2001)
A model of firm-level optimal pricing under stochastic inflation and fixed costs of adjusting prices is solved and characterized. In this model, inflation alternates stochastically between some positive rate g and zero ...
An Alternative View of Taxation and Endogenous Growth
(Vanderbilt University, 2001)
In this paper, a modification is made to the endogenous growth model studied by Lucas [1988]. It is shown that if individuals derive utility from their level of human capital, then a tax on the return to physical capital ...
Do Values of Existing Home Sales Reflect Property Values?
(Vanderbilt University, 2001)
In many locales, the average price of existing home sales is used as an of indicator home prices. This information is then used to establish the value of the property for tax purposes. A simple example is presented here ...